Long analysis of what the company is working through right now and why there are information issues. This is based on a very recent conversation. Take it for what it is worth or ignore completely. Some the information many of you already know.
First: CTDT has a total of 5 employees of which I believe only Mr. Snaper and Mr. Prentice are full time. LT is not an employee neither is Mr. Li or the members of the executive committee.
Mr. Snaper spends his time almost exclusively working on the technology for the company.
Mr. Prentice who is designated as the President and COO spends most of his time negotiating deals - these include funding, channel partners, sales partners, diamond marketing arrangements, etc. Bear in mind that Mr. Prentice has been working in the international diamond industry for a long time. He is well known and respected in those circles but he also is keenly aware of the dark side of the diamond industry. He by nature is extremely cautious with information. The diamond industries need for secrecy has made him even more so.
LT is an exceptional intelligent individual who was brought in by Snaper to help him. Snaper and LT are "geeks" in the best sense of the word. Mr. Prentice probably does not understand a lot of the technological parts of the company. That is what Snaper provides. LT does understand it and he gets very excited about it. LT knows A LOT of the company business and forward potential. This is a problem for Prentice because he is trying to keep things quiet.
The battle going on and a lot of the delay is because Mr. Prentice holds the authority and LT does not. LT can make a decision but Mr. Prentice can easily abort that decision if he thinks it is giving out critical information. LT wants to give the shareholders a lot of info but there are strategic reasons (In Mr. Prentices opinion) that make it bad business. Mr. Prentice is the one who removed the blog from the company website.
LT is working with the executive committee trying to get enough push to allow the release of information. As LT put it "disclosure is a battle".
I believe Mr. Prentice understands that the value of this company will speak for itself as they begin to execute their strategy. He does not want to jeopardize any of the forged relationships, tech secrets or channel partners until they are actually "in business". It is too much of a risk and one he does not want to take. LT wants to put the information out. They have been unable to agree on that and that is why LT created the blog. Neither Snaper nor Prentice particularly care for the blog but because LT is not an employee they can't shut it done easily. So LT puts out what he can in riddles and clues to give shareholders something.
I have no doubt that Mr. Prentice has a plan and is busy executing it. I don't think we will get much information on it until the pieces are completely in place.
LT cannot say whether or not an 8K or any PR will be put out soon. It is not his decision to make. He will continue to urge the executive committee to push for it. That is all he can do. As far as what the 10K includes LT had this to say: The 10-K is in fact, and in my opinion, very basic and foundational. It demarcates the end of R&D and guides us to preproduction and production phase.
I think the company will need to conclude financing before we see any better corporate structure. I am sure this is planned out and they know what positions they need and what responsibilities those positions will have as well as what authority. My guess is this process is going to take longer than many of us had hoped. I do believe it will take place. As I have continued to say the book value of this company based on no debt and the disruptive technology and patents it holds has significant value. There are many ways to extract that value and as shareholders we will all share in that value regardless of the manner it is done.
I am willing to wait as I recognize the difficulties and intracacies involved in the myriad complex task a handful of people are trying to get done.
Starting a lemonade stand takes work. Designing, testing and putting a new disruptive technology into the market place is a massive undertaking. We all believe this technology is the real deal. We are frustrated because the company management looks completely incompetent. My guess is they are very competent behind the scenes. A late 10K is probably not a very big deal to them. Just to shareholders. They have their own priorities and we are not it. In the scheme of things there is probably about 200 people who are following the filing process closely. They will put things together. I am glad we have an opportunity to add shares at a better price. I hope everyone can take some advantage of that. Hoping you all make a lot of money!
AI
